XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Real Estate Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Real Estate Investments |
Summary of investments in owned properties | The following table summarizes our investments in owned properties at June 30, 2017 (dollar amounts in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  | Average |
|  |  |  |  | Percentage |  | Number |  | Number of |  | Investment |
|  | Gross |  | of |  | of |  | SNF |  | ALF |  | per |
Type of Property |  | Investments |  | Investments |  | Properties(1) |  | Beds |  | Units |  | Bed/Unit |
Assisted Living |  | $ | 742,518 |  | 54.8 | % | 103 |  | — |  | 5,772 |  | $ | 128.64 |
Skilled Nursing(2) |  |  | 579,757 |  | 42.8 | % | 76 |  | 9,276 |  | 274 |  | $ | 60.71 |
Under Development(3) |  |  | 21,878 |  | 1.6 | % | — |  | — |  | — |  |  | — |
Other(4) |  |  | 10,216 |  | 0.8 | % | 1 |  | 118 |  | — |  |  | — |
Totals |  | $ | 1,354,369 |  | 100.0 | % | 180 |  | 9,394 |  | 6,046 |  |  |  |
| (1) |  | We own properties in 27 states that are leased to 28 different operators.
| (2) |  | Includes seven SNFs with ALF units.
| (3) |  | Represents three development projects consisting of two MC with a total of 132 units and a 143-bed SNF.
| (4) |  | Includes three parcels of land held-for-use, and one behavioral health care hospital. The behavioral health care hospital has two licensed skilled nursing beds and 116 acute care licensed hospital beds which represents an investment of $78.39 per bed.
Summary of investments acquired | The following table summarizes our acquisitions for the six months ended June 30, 201 7 (dollar amounts in thousands):
|  |  |  |  |  |  |  | Total |  | Number |  | Number
|  | Purchase |  | Transaction |  | Acquisition |  | of |  | of
Type of Property |  | Price |  | Costs(1) |  | Costs |  | Properties |  | Beds/Units
Assisted Living(2) |  | $ | 54,463 |  | $ | 277 |  | $ | 54,740 |  | 3 |  | 240
| (1) |  | Represents cost associated with our acquisitions; however, depending on the accounting treatment of our acquisitions, transaction costs may be capitalized to the properties’ basis and, for our land purchases with forward development commitments, transaction costs are capitalized as part of construction in progress. Additionally, transaction costs may include costs related to the prior year due to timing and terminated transactions.
| (2) |  | We acquired a 107-unit assisted living community and a 73-unit memory care community for an aggregate purchase price of $38,813. Additionally, we acquired a 60-unit memory care community for $15,650.
The following table summarizes our acquisitions for the six months ended June 30, 2016 (dollar amounts in thousands):
|  |  |  |  |  |  |  | Total |  | Number |  | Number
|  | Purchase |  | Transaction |  | Acquisition |  | of |  | of
Type of Property |  | Price |  | Costs(1) |  | Costs |  | Properties |  | Beds/Units
Skilled Nursing(2) |  | $ | 16,000 |  | $ | 45 |  | $ | 16,045 |  | 1 |  | 126
Assisted Living(3) |  |  | 53,550 |  |  | 346 |  |  | 53,896 |  | 4 |  | 270
Totals |  | $ | 69,550 |  | $ | 391 |  | $ | 69,941 |  | 5 |  | 396
| (1) |  | Represents cost associated with our acquisitions; however, depending on the accounting treatment of our acquisitions, transaction costs may be capitalized to the properties’ basis and, for our land purchases with forward development commitments, transaction costs related to the prior year due to timing and terminated transactions.
| (2) |  | We acquired a newly constructed 126-bed skilled nursing center in Texas.
| (3) |  | We acquired a newly constructed memory care community in Kentucky for $14,250 including a $2,000 holdback, a newly constructed assisted living and memory care community in Georgia for $14,300 and two memory care communities in Kansas for an aggregate purchase price of $25,000.
Schedule of development, improvement and construction projects | During the six months ended June 30, 2017 and 2016 the following in development and improvement projects (in thousands):
|  | Six months ended June 30, 2017 |  | Six months ended June 30, 2016
|  | Development |  | Improvements |  | Development |  | Improvements
Assisted Living Communities |  | $ | 7,198 |  | $ | 839 |  | $ | 26,331 |  | $ | 1,293
Skilled Nursing Centers |  |  | 1,957 |  |  | 1,356 |  |  | - |  |  | 2,794
|  | $ | 9,155 |  | $ | 2,195 |  | $ | 26,331 |  | $ | 4,087
Summary of investments in mortgage loans secured by first mortgages | The following table summarizes our investments in mortgage loans secured by first mortgages at June 30, 2017 (dollar amounts in thousands):
|  |  |  |  | Number of |  | Investment |
|  | Gross |  |  |  |  |  | SNF |  | per |
Type of Property |  | Investments |  | Loans |  | Properties(1) |  | Beds |  | Bed/Unit |
Skilled Nursing |  | $ | 222,604 |  | 5 |  | 21 |  | 2,796 |  | $ | 79.62 |
| (1) |  | We have investments in properties located in two states that include mortgages to two operators.
Schedule of mortgage loan activity | The following table summarizes our mortgage loan activity for the six months ended June 30, 2017 and 2016 (in thousands):
|  | 2017 |  | 2016 |
Origination/Funding |  | $ | 7,829 |  | $ | 17,128 |
Pay-offs |  |  | 16,665 |  |  | 645 |
Scheduled principal payments received |  |  | 674 |  |  | 953 |

X
- Definition Tabular disclosure of the entity's acquired real estate investments. + References No definition available. + Details
Name: | ltc_ScheduleOfAcquiredRealEstateInvestmentsTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of additional loan commitments under mortgage loans. + References No definition available. + Details
Name: | ltc_ScheduleOfAdditionalLoanCommitmentsTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the entity's completed development, improvement and construction projects. + References No definition available. + Details
Name: | ltc_ScheduleOfCompletedDevelopmentImprovementAndConstructionProjectsTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the entity's investment in owned properties. + References No definition available. + Details
Name: | ltc_ScheduleOfInvestmentsInOwnedPropertiesTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the terms and amounts of participation in loan arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=29639217&loc=d3e10013-112621 + Details
Name: | us-gaap_ScheduleOfParticipatingMortgageLoansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration